DOI: 10.36347/sjebm.2017.v04i03.006

Pages: 175-180

The number of the elderly is growing rapidly in China's population structure, has more than 212 million (data from the China Aging Research Center), china is becoming a country that has the oldest people. Faced with the increasingly serious aging problem, the basic pension system is limited. As early as 2013, the State Council clearly put forward to give full play to the market in the allocation of resources in the basic role, so that social forces become the main body of the development of old-age service industry. By the end of 2015, in the new 13th Five-Year Plan also made clear: full liberalization of the pension service market, taking advantage of the purchase of services, equity cooperation and other means to support various market players increase old-age services and product supply. March 2016, the People's Bank of China, the Ministry of Civil Affairs, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission jointly issued <the Guiding Opinions on Financial Support for Accelerated Development of the Old-age Service Industry>, and proposed to establish coordination mechanism supporting the pension service industry of a financial system involving the people's bank, civil affairs, financial supervision and other departments, strengthen industrial policy and financial policy coordination, strengthen the implementation of policy and effect monitoring, form a policy force promoting the development of pension services. Based on this background, it is necessary to study how to use financial services and its support functions to solve China’s Aging Problem, reduce the burden on the government and improve the protection level of the aged groups.